Business Development Specialist

To develop and maintain relationships with small to medium-sized business entities, providing them with tailored financial solutions to meet their needs, through assessing their financial goals and recommending suitable products and services, while providing exceptional service

Job Summary 

The Business Development Specialist is responsible for identifying and pursuing new business opportunities to drive growth and revenue for the VM Building Society. This role involves building and maintaining relationships with potential clients, understanding their financial needs, and presenting tailored solutions that align with the Building Society's offerings.

Job Duties and Responsibilities

• Serve as the primary point of contact for business members, ensuring their banking needs are met.
• Develop and maintain strong relationships with existing clients and prospects, becoming a trusted financial advisor
• Proactively seek opportunities to attract new business clients through networking, referrals, and community involvement.
• Conduct thorough financial analysis and assess the needs of business clients to recommend appropriate banking products.
• Identify cross-selling opportunities for products such as cash management, loans, lines of credit, treasury services, and deposit products.
• Design, implement and coordinate sales plans and activities to grow the business customer segment in all VM companies
• Engage prospective customers to determine their needs and identify appropriate solutions for their businesses using suite of products and services across the VM Group
• Prepare and present loan proposals, credit structures, and financial packages in line with bank policies and client needs.
• Research the market to identify new business opportunities
• Keep abreast of industry trends and competitive offerings
• Develop business development proposals for new and existing business customers
• Maintain a robust pipeline of business
• Secure and capture required documentation and other data for products being sold
• Track business along processing channels to ensure timely closing
• Close business within authority and refer and work closely with appropriate sales team member for business outside of authority
• Full compliance with sales choreography and routines established
• Collate and submit Sales Performance Report and any other report as required in a timely manner
• Act as an effective ‘cross referrer’ for the VM Group
• Respond to the customers’ queries and issues in a line with the VM Group Service Standards
• Represent the VM Group at various events to assist in building profitable relationships with existing and potential customers

• To structure commercial loan applications in keeping with the Building Society’s credit policy for adjudication by the Adjudication Unit and where required, the Credit and/or Finance Committee.

  Achieve sales targets and other performance objectives within schedule, as agreed
• Ensures that all information accessible is handled in accordance with the Information Security (IS) Policy
• Continuous improvement supported by Performance Management
• Provide feedback on customer needs, problems, interests, competitive activities, products and services and potential for new products and services
• Work closely with colleagues in corporate and commercial lending, treasury management, and other areas to provide comprehensive financial solutions.
• Act as a liaison between business members and internal teams to ensure seamless service delivery.
• Adhere to the Society’s policies, procedures, and regulatory requirements.
• Perform due diligence, monitor loan performance, and manage risk within the Society’s risk tolerance.

Qualifications:

• Bachelor’s degree in Finance, Business Administration, Marketing, or a related field.
• Proven experience in sales, preferably within the financial services industry.
• Strong understanding of financial products and services, including investment vehicles, loans, and insurance.
• Excellent communication, negotiation, and interpersonal skills.
• Ability to build rapport and trust with clients and stakeholders.
• Strong analytical and problem-solving skills.
• Results-oriented with a track record of meeting or exceeding sales targets.

Working Conditions

• This position may require travel to meet clients and attend industry events.
• Flexible working hours may be necessary to accommodate client schedules.